Just curious, what do you mean, be prepared to move? Did you tell the landlord, "I will move if you don't give me a 10% decrease in rent"? I'm finding it hard to believe that in a market like NYC where the rents are sky high generally increasing, you could get such a discount.

It also depends on the kind of property taxes prevalent in the states. e.g. in California, property taxes are set at the time of purchase, while in Texas they are reassessed every year. So, my landlord (in Texas) basically increases the rent to cover for the increase in property taxes.

> I'm finding it hard to believe that in a market like NYC where the rents are sky high generally increasing, you could get such a discount.

I was able to do the same thing when re-signing the lease for my NYC (East Village) apartment in June 2009. My roommates and I drafted a letter requesting a 10% reduction, citing decreased rents 1) in the neighborhood and 2) in the rest of the city - specifically in the financial district where "luxury" buildings were giving away multiple months of free rent as a signing bonus - and the management company accepted it without a word.

Tenant protection laws in NYC are very tenant-friendly, to a degree where someone who is sufficiently motivated and knows the system can effectively live in an apartment rent-free for up to a year at a time, if not longer.

Landlords are scared to death of deadbeat tenants like this, it costs a lot of legal fees to get rid of them, and they're freeloading while you're walking through the necessary legal processes.

Every time the apartment goes onto the market they're rolling the dice again - so the value of an existing pleasant tenant is substantial vs. the risk of a tenant of unknown quality.

Which isn't to say you can just get your rent slashed whenever you want, but it's part of the negotiation, and coupled with a recession it can be a powerful argument.

I'm a landlord in New York and I've been a tenant in NYC and this just isn't true.

Vast majority of rentals in NYC if you asked the super for a discount in rent you'd be requested not to let the door hit your ass on the way out.

Depends if you are talking about private small landlords or corporate institutional (ie, Related). The former has totally different motivations and needs. I haven't received rent reductions but I have fought off rent increases in strong markets.

only works if prices are plateauing or dropping in your market

Yes exactly. Its not a negotiation if you wont walk. Car dealer won't change price? Walk and buy a different car. If you are too in love to walk you already lost the negotiation.

I think that that threat is more dependent on how fast they can fill the apartments. If the apartment ends up on the market for 2 months... well 10% decrease is the better option isn't it?

I didn't literally say I will move. I was more coy and diplomatic about it. I just said the market is different, rents are coming down in the neighborhood, it's a great location and apartment and I'd really like to stay here but economic good sense tells me it's reasonable to request lower rent right now, and I think $x is reasonable.

2008 is the keyword here. Lehman B going bankrupt. Fear.

Just that simple folks.